Tether-Backed Twenty One Capital Set to Go Public with Ambitious Bitcoin Strategy
Key Points:
- Twenty One Capital is preparing to list on a public exchange, aiming to significantly grow its Bitcoin reserves.
- CEO Jack Mallers plans to use company-generated cash flow, rather than debt, to fund Bitcoin purchases.
- The firm is also developing Bitcoin-native financial products, signaling a shift from traditional finance.
Twenty One Capital, a Bitcoin-centric company supported by Tether, is nearing its debut on the stock market. CEO Jack Mallers announced that the company expects regulatory approval soon and hopes to trade under the ticker symbol XSI.
Aggressive Bitcoin Acquisition Strategy
In a recent interview posted on X (formerly Twitter), Mallers shared that once publicly listed, Twenty One Capital’s core strategy will be to maximize Bitcoin accumulation. The approach relies on reinvesting operational cash flow rather than borrowing, aiming to position the firm as a major Bitcoin holder in a sustainable way.
Mallers acknowledged the regulatory hurdles involved, particularly with the SEC, but remains hopeful about the broader regulatory environment, noting potential improvements under the new U.S. administration.
Redefining Financial Products with Bitcoin
The company also intends to launch innovative financial tools built around Bitcoin, such as lending platforms and capital market instruments. These offerings aim to provide alternatives to traditional financial products, reshaping how capital flows within the crypto economy.
Beyond simple accumulation, Mallers emphasized the importance of long-term value creation. A key metric for success, he said, will be increasing the amount of Bitcoin per share—aligning shareholder value directly with Bitcoin growth.
With Tether’s support, Twenty One Capital has already made major moves. Last month, Tether and Bitfinex transferred $2.7 billion worth of BTC to the firm as part of its push toward amassing 420,000 BTC. A previous purchase of 4,812 BTC had already made it the world’s third-largest holder of Bitcoin—a position it has continued to strengthen with ongoing acquisitions.
